Wedbush Boosts Biogen (NASDAQ:BIIB) Price Target to $215.00

Biogen (NASDAQ:BIIB) had its price objective upped by analysts at Wedbush from $213.00 to $215.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s price objective suggests a potential upside of 6.44% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Robert W. Baird decreased their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.46.

Biogen Trading Up 4.6 %

Shares of BIIB opened at $201.99 on Thursday. The firm’s fifty day moving average is $213.18 and its two-hundred day moving average is $234.39. The stock has a market cap of $29.36 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen has a 52-week low of $189.44 and a 52-week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $3.40 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. Research analysts forecast that Biogen will post 15.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Large investors have recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in Biogen during the 3rd quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Biogen during the fourth quarter valued at $26,000. Rise Advisors LLC purchased a new stake in Biogen during the 1st quarter worth about $27,000. Gladius Capital Management LP acquired a new position in Biogen in the 3rd quarter valued at about $28,000. Finally, KB Financial Partners LLC lifted its holdings in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.